BoC holds interest rate at 0.5 per cent

by Steve Randall09 Sep 2015

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BoC holds interest rate at 0.5 per cent

The Bank of Canada has decided to keep interest rates at 0.5 per cent as the previous two cuts are still stimulating the economy. Reuters reports that the tone of the central bank’s announcement suggest that, notwithstanding any serious economic issues, it is unlikely that there will be any further cuts. The bank noted that the oil sector is still adjusting to lower prices but that the decreased value of the Canadian dollar is helping to boost exports and mitigate the effects from the energy downturn.